McGrathNicol

Employers may soon be required to pay employees’ superannuation on the same day as relevant wages and salaries. Partner Siobhan Hennessy discusses the proposed ‘Pay Day’ super changes and what these reforms will mean for organisations in our blog post below. https://lnkd.in/gHtxxztg

The Cyber Security Bill 2024 marks a critical step forward in safeguarding Australia’s economy from escalating cyber threats. In our latest blog post, Partner Darren Hopkins shares analysis of the key provisions, with our McGrathNicol 2023 research and report “Ransomware: A Cost of Doing Business” playing a key role in shaping the Federal Government’s response. Read the full blog post below and access a copy of our 2023 Report: https://lnkd.in/gGwspgKv https://lnkd.in/g4kPBQhH

McGrathNicol New Zealand is proud to announce the appointment of Andrew Keenan as a Parter in Auckland. "Andrew is a great addition to our New Zealand team. We are excited to welcome him to the firm at a time when our clients are looking for clear advice to improve performance, mitigate risk and achieve stability and growth in a challenging economic environment. Our clients will benefit from the breadth of experience and expertise Andrew brings to the firm,” says Andrew Grenfell, Managing Partner of McGrathNicol New Zealand. Further information on Andrew, please visit our website: https://lnkd.in/g5qDC9Nn

Partner Sean Wiles featured in Dynamic Business this week, offering practical tips for SMEs to manage cash flow and introduce disciplined working capital practices. “The shorter the working capital cycle, the faster the conversion of earnings to cash. This, in turn, increases liquidity and provides management teams with options during tougher trading conditions. The challenge is managing all parts of the cycle as efficiently as possible at the same time.” Read the full feature below, with thanks to the Dynamic Business team.

Partner Darren Hopkins has been named a finalist at the 2024 Australian Information Security Association (AISA) Awards in the Professional of the Year category. We are very proud of this recognition and look forward to celebrating Darren and the other talented finalists at the awards night on 26 November 2024. Voting has now opened and if you are an AISA member, we would greatly appreciate it if you could please vote.

Director Doug Kay was recently interviewed by UNSW and UNSW Business School to describe his work as a restructuring and turnaround professional. Doug explains the accounting foundation of the skills needed on a restructuring job: financial modelling, review of historical financial performance, and assessment of the potential options for the future of a company. Watch the short video below, and visit our careers page for information on the exciting career options available at McGrathNicol! 

Thanks to our clients who joined us for our 20-year anniversary celebration in Melbourne last night at the National Gallery of Victoria. We are incredibly grateful for your ongoing support, and we look forward to continuing this journey together.

The Westpac Consumer Sentiment Index increased by 6.2% to reach 89.8 in October. Partner Jason Ireland joined ausbiz to discuss the factors behind the index reaching its highest level since May 2022 – a better outlook on interest rates and inflation - and why that improved sentiment, coupled with energy rebates, petrol prices coming down, stage three tax cuts, warmer seasonal weather is good news for retailers as we approach a sales season in November. Watch the full interview with Juliette Saly below. https://lnkd.in/gm9YccUd

Our Risk and Security Report, featured by the Australian Institute of Company Directors, reveals cyber security as the top concern for Australian businesses yet 71% of organisations still do not conduct due diligence on their key suppliers’ cybersecurity practices. Read more in the October issue of Company Director. Access The Changing Landscape of Business Risk report here:  https://lnkd.in/gFByYQGp

Partner Gordon Morrison and Director at Longreach Credit Investors Alex Miller feature in this month's Acuity Magazine, exploring the benefits of private credit as a valuable source of funding. While the private credit market is growing, non-bank lending accounts for only 9 percent of total business lending in Australia—compared with 91 percent and 65 percent in the US and Europe respectively. Read the full article below.